Sensex, Nifty rebound after two-day slump amid buying in Infosys, HDFC Bank & TCS

Mumbai: Equity benchmark indices Sensex and Nifty bounced back on Friday after a two-day decline, supported by buying in market heavyweights Infosys, HDFC Bank and TCS shares, shrugging off US tariff woes amid mixed global trends.

In a choppy session, the 30-share BSE Sensex climbed 187.64 points, or 0.23 per cent, to settle at 83,570.35.

The 50-share NSE Nifty rose 28.75 points, or 0.11 per cent, to 25,694.35.

In a holiday-shortened week, the BSE benchmark dipped 5.89 points, and the Nifty went up by 11.05 points.

From the 30-Sensex firms, Infosys, Tech Mahindra, HCL Tech, State Bank of India, UltraTech Cement and HDFC Bank were among the gainers.

In contrast, Eternal, Asian Paints, Bharat Electronics, Sun Pharma and Maruti were among the laggards.

The IT sector was the standout performer, gaining 2.9 per cent, driven by a strong rally in Infosys, which surged nearly 5 per cent after reporting robust quarterly earnings and raising its full-year revenue growth guidance.

On the other hand, pharmaceutical stocks fell 1.3 per cent, and the metal index slipped due to profit booking after recent gains.

The BSE midcap gauge went up by 0.15 per cent, while the smallcap index dipped 0.45 per cent.

Among sectoral indices, BSE Focused IT jumped 3.41 per cent, IT (3.39 per cent), bankex (1.16 per cent), PSU Bank (1.12 per cent) and oil & gas (0.43 per cent). However, consumer durables declined 1.37 per cent, capital goods (1.23 per cent), power (1.13 per cent) and consumer discretionary (0.80 per cent).

In Asian markets, South Korea’s Kospi index settled higher, while Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index ended lower.

European markets were trading lower. US markets ended higher on Thursday.